Legis Daily

Regulatory Transparency Act of 2023

USA118th CongressS-839| Senate 
| Updated: 3/16/2023
John Thune

John Thune

Republican Senator

South Dakota

Cosponsors (1)
James Lankford (Republican)

Homeland Security and Governmental Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Regulatory Transparency Act of 2023 This bill requires agencies to determine that the benefits of a rule justify the costs of the rule before issuing a proposed, final, or interim final rule. The bill also requires agencies to complete a regulatory impact analysis that meets specified requirements before issuing an economically significant rule. Economically significant rules are generally those with an annual effect on the economy of at least $100 million. Each regulatory impact analysis must include the potential benefits and costs of the rule and take into account the cumulative regulatory burden on the regulated entity. The analysis must also (1) be transparent, replicable, and objective; and (2) consider the potential effects on different types and sizes of businesses, if applicable. The bill provides for judicial review of an agency's regulatory impact analysis. Agencies also must consider a sunset date for an economically significant rule.
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Timeline
Mar 16, 2023
Introduced in Senate
Mar 16, 2023
Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S828; text: CR S828-829)
  • March 16, 2023
    Introduced in Senate


  • March 16, 2023
    Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S828; text: CR S828-829)

Government Operations and Politics

Regulatory Transparency Act of 2023

USA118th CongressS-839| Senate 
| Updated: 3/16/2023
Regulatory Transparency Act of 2023 This bill requires agencies to determine that the benefits of a rule justify the costs of the rule before issuing a proposed, final, or interim final rule. The bill also requires agencies to complete a regulatory impact analysis that meets specified requirements before issuing an economically significant rule. Economically significant rules are generally those with an annual effect on the economy of at least $100 million. Each regulatory impact analysis must include the potential benefits and costs of the rule and take into account the cumulative regulatory burden on the regulated entity. The analysis must also (1) be transparent, replicable, and objective; and (2) consider the potential effects on different types and sizes of businesses, if applicable. The bill provides for judicial review of an agency's regulatory impact analysis. Agencies also must consider a sunset date for an economically significant rule.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 16, 2023
Introduced in Senate
Mar 16, 2023
Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S828; text: CR S828-829)
  • March 16, 2023
    Introduced in Senate


  • March 16, 2023
    Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S828; text: CR S828-829)
John Thune

John Thune

Republican Senator

South Dakota

Cosponsors (1)
James Lankford (Republican)

Homeland Security and Governmental Affairs Committee

Government Operations and Politics

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted